It's not all bad news for ASX All Ords shares on Tuesday. Here are some major winners

Why did these ASX All Ords shares climb higher today? Let's take a look.

a group of people excitedly cheering at a horse race

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Some ASX All Ords shares defied the broader market fall on Tuesday
  • DGL Group and Lark Distilling both gained upwards of 13%
  • Maas Group and Incitec Pivot also finished well in the green

The All Ordinaries Index (ASX: XAO) fell again on Tuesday, ending the session down 0.07% to 7,345.40 points.

It wasn't bad news across the board though, with four sector indices finishing in the red and seven glowing green.

The S&P/ASX Real Estate Index (ASX: XRE) was the biggest weight, falling 1.30%. The S&P/ASX Information Technology Index (ASX: XIJ) saw the biggest gains, up 1.68%

Let's take a look at some of the ASX All Ords that defied the drop to post big gains.

DGL Group Ltd (ASX: DGL)

The DGL Group share price closed 16.67% higher to $1.72.

The specialist chemicals company held its annual general meeting today and announced the results this afternoon.

DGL confirmed it expects to report underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) in the range of $70 million to $72 million in FY23. This will be up from $65.6 million in FY22.

The guidance seems to have gone well with investors, who pushed the DGL share price up from the open.

Among the issues voted on and passed at the meeting included re-electing DGL chairman Peter Lowe and non-executive director Robert Mckinnon.

Lark Distilling Co Ltd (ASX: LRK)

The Lark Distilling share price was another winner on Tuesday, soaring 13.95% to $2.45.

Unlike DGL Group, there was no news from the ASX All Ords share today to make sense of the surge in its share price.

The last announcement the craft spirits company made was on 4 November, appointing Satya Sharma as its CEO. Sharma will take the lead role of the company in May next year and will help lead Lark Distilling into a new phase of growth for the company, the release said. The Lark share price jumped 9% on that news.

Back in July, the business reported its Q4 results for FY22. Highlights included revenue surging 72% from the previous corresponding period to a record $6.8 million and generating a positive cash flow of $1.3 million.

Maas Group Holdings Ltd (ASX: MGH)

The Maas Group share price surged 9.73% to end the day at $2.48.

It might be surprising to see the provider of construction materials and equipment on this list because the company downgraded its earnings guidance for FY23 yesterday.

It now expects its pro forma EBITDA to be in the range of $150 million to $180 million.

That's a significant reduction from the previous guidance it issued for FY23, which came in between $180 million and $200 million.

The reasons for the downgrade were said to be heavy rainfall disrupting its operations and a shunted real estate market from the Reserve Bank of Australia hiking interest rates.

The Maas share price fell 5.44% yesterday but has bounced back strongly today.

Incitec Pivot Ltd (ASX: IPL)

The final ASX All Ords share to look at today is Incitec Pivot, which closed 5.88% higher to $3.96.

The jump came after the chemicals giant posted its full-year results for FY22 this morning.

Highlights from the report included its net profit after tax (NPAT), excluding individually material items (IMIs), growing 186% to $1.02 billion.

A fully franked final dividend of 17 cents per share was also announced, along with a share buyback program of $400 million that will be rolled out over the next 12 months.

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DGL Group Limited. The Motley Fool Australia has recommended DGL Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another shaky day for ASX shares this Tuesday.

Read more »

forklift holding boxes next to upward trending arrow signifying share price lift

If you don't own this ASX stalwart stock, you're missing some serious stability

This stock is riding strong tailwinds, I really like its outlook.

Read more »

ETF spelt out on cube blocks with rising arrows.

Are these record-breaking ASX ETFs now too expensive to buy?

Should you ever buy an ETF at an all-time high?

Read more »

Two parents and two children happily eat pizza in their kitchen as a top broker predicts a 46% upside for the Domino's share price
Consumer Staples & Discretionary Shares

Buy Domino's shares for a 50% return and attractive dividend yield

Morgan Stanley believes investors should be grabbing a slice of this stock.

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Coles, Liontown, Lovisa, and Wildcat shares are dropping today

These ASX shares are having a difficult session. But why?

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Gainers

Why DroneShield, Healius, Newmont, and Paragon Care shares are pushing higher

These ASX shares are having a strong session on Tuesday. But why?

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Materials Shares

Why are ASX lithium shares like Pilbara Minerals crashing on Tuesday?

Lithium stocks are getting another whack today.

Read more »

two colleagues high five each other as they sit side by side at a long desk in front of their laptop computers in an office environment.
Mergers & Acquisitions

Guess which ASX small cap stock is rocketing 27% on 'transformative' merger

Investors are liking the look of this merger plan.

Read more »